Friday, November 21, 2014

Delaine Corp.’s (DEPN) CarMonkey.com Demonstrates Strength with FY14 Performance

Delaine, an e-retailer of automotive parts and services, launched its online store CarMonkeys.com little more than a year ago, and it didn’t take long for the online store to make its mark in the recycled automotive parts market.

CarMonkeys.com is an online car, van and SUV parts distributor of used automotive parts for a wide range of vehicle makes and models. In the first quarter of fiscal 2014 Delaine also launched LowMileageParts.com and advanced from “development stage.” Parts are shipped straight from one of the company’s many warehouses and auto dismantling centers straight to the customer or their mechanic.

Who wants to buy used automotive parts? Quite a few consumers, retailers, truck and car fleet owners and auto repair facilities, apparently.

In the company’s recently reported fiscal 2014 financial results for the period ended June 30, 2014, Delaine posted gross transactions volume at $1.85 million, compared to $61,000 for the prior-year period. Net revenue for fiscal 2014 increased to $672,858 compared to $3,210 for fiscal 2013. Delaine also increased its cash position to $123,331 in fiscal 2014 compared to $41,334 the prior year.

Fourth-quarter earnings of $198,000 and total assets growth of 44% effected growth in shareholder equity, which increased by 31%. A comparison of the fourth-quarter performance and the average of the first three quarters shows gross transaction volume growth of 43% and revenue growth of 25%.

Based on these results, auto industry trends and several corporate factors, Delaine is optimistic it will achieve “even greater increases in transaction volume and revenues.” The company anticipates it will benefit from a newly appointed chief operating officer with e-commerce experience, heightened marketing initiatives, repeat sales, additional product introductions, increased personnel to accommodate demand, and extended labor installation warranties.

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